Real estate investment trust Omega Healthcare Investors said it has completed the initial closing of its purchase of certain facilities from CapitalSource for about $294 million. As part of the deal, Omega bought 40 long-term-care facilities, as well as an option to later purchase an additional 63 facilities from the company.
Omega Healthcare advances purchases of CapitalSource facilities
According to a corporate news release, Omega said the 40 facilities, which are located in 12 states, are part of 15 in-place, triple-net leases among 12 operators. Those leases generate about $31 million of annualized revenue, the company said.
Meanwhile, a subsidiary of Omega entered into a secured credit agreement that provides for a new five-year, $100 million term loan that matures in December 2014. The loan is secured by 18 long-term-care facilities under a master lease with one of the company's existing operators.
As of Sept. 30, Omega owned or held mortgages on 254 long-term facilities and assisted-living facilities in 28 states.
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